Fast Facts
America’s oil and natural gas industry supports 9.2 million jobs
throughout the economy and 7.5 percent of GDP. Our industry
provides higher-than-average wages and contributes to our
nation’s energy security:
• The national average annual salary for oil and gas
exploration and production is $96,844 or about $47 per
hour – more than double the average annual salary of all
occupations.
• From 2004-2007, the oil and natural gas industry was
responsible for creating nearly 2 million additional domestic
jobs.
The average U.S. citizen uses about
2 barrels of oil every month.
Below are some more fast facts that you may not know about
this important industry:
• America produces 5.4 million barrels of crude oil per day,
164 million barrels, per month, and almost 2 billion barrels
per year.
• The United States produces 72 billion cubic feet (bcf) of
natural gas a day, 2,200bcf per month and 26,000bcf
per year.
– The United States is estimated to have enough natural
gas to meet 100 percent of current domestic demand
for at least 90 years.
• The top five producing countries in the world are:
– Oil: Saudi Arabia, Russia, United States, Iran and China.
– Gas: United States, Russia, Canada, Algeria and Iran.
• World petroleum consumption is almost 84 million
barrels/day.
• In 2009, 41 percent of total U.S. energy consumption was
used in residential and commercial buildings, 30 percent
in industrial activities and 29 percent in transportation.
Source: Annual Energy Review 2009, U.S. Energy Information Administration,
August 2010.
• The top five consuming countries in the world are:
– Oil: United States, China, Japan, India, and Russia.
– Gas: United States, Russia, Iran, Japan, and the UK.
• The United States imports oil from all over the world, not
just one region. The top five imports come from:
– Canada (2.1 million barrels per day), Mexico (1.2 million
barrels per day), Nigeria (1.1 million barrels per day),
Saudi Arabia (1.0 million barrels per day), and Venezuela
(1.0 million barrels per day).
For more information visit API.org
Fast Facts
America’s oil and natural gas industry supports 9.2 million jobs
throughout the economy and 7.5 percent of GDP. Our industry
provides higher-than-average wages and contributes to our
nation’s energy security:
• The national average annual salary for oil and gas
exploration and production is $96,844 or about $47 per
hour – more than double the average annual salary of all
occupations.
• From 2004-2007, the oil and natural gas industry was
responsible for creating nearly 2 million additional domestic
jobs.
The average U.S. citizen uses about
2 barrels of oil every month.
Below are some more fast facts that you may not know about
this important industry:
• America produces 5.4 million barrels of crude oil per day,
164 million barrels, per month, and almost 2 billion barrels
per year.
• The United States produces 72 billion cubic feet (bcf) of
natural gas a day, 2,200bcf per month and 26,000bcf
per year.
– The United States is estimated to have enough natural
gas to meet 100 percent of current domestic demand
for at least 90 years.
• The top five producing countries in the world are:
– Oil: Saudi Arabia, Russia, United States, Iran and China.
– Gas: United States, Russia, Canada, Algeria and Iran.
• World petroleum consumption is almost 84 million
barrels/day.
• In 2009, 41 percent of total U.S. energy consumption was
used in residential and commercial buildings, 30 percent
in industrial activities and 29 percent in transportation.
Source: Annual Energy Review 2009, U.S. Energy Information Administration,
August 2010.
• The top five consuming countries in the world are:
– Oil: United States, China, Japan, India, and Russia.
– Gas: United States, Russia, Iran, Japan, and the UK.
• The United States imports oil from all over the world, not
just one region. The top five imports come from:
– Canada (2.1 million barrels per day), Mexico (1.2 million
barrels per day), Nigeria (1.1 million barrels per day),
Saudi Arabia (1.0 million barrels per day), and Venezuela
(1.0 million barrels per day).
For more information visit API.org
The Industry
Over the last five years, earnings for the oil and natural gas
The Industry
Over the last five years, earnings for the oil and natural gas
industry have been in line with U.S. manufacturing – averaging industry have been in line with U.S. manufacturing – averaging
just 7 cents for every dollar of sales. just 7 cents for every dollar of sales.
Contrary to popular belief and what some critics might say, Contrary to popular belief and what some critics might say,
America’s oil companies aren’t owned by a small group of America’s oil companies aren’t owned by a small group of
wealthy investors. wealthy investors.
5.0% 1.5% • Only 1.5 percent of industry 5.0% 1.5% • Only 1.5 percent of industry
Other Corporate Mgmt. shares are owned by corporate Other Corporate Mgmt. shares are owned by corporate
Institutional of Oil Companies Institutional of Oil Companies
Investors management. The rest is owned Investors management. The rest is owned
by tens of millions of Americans. by tens of millions of Americans.
29.5% 29.5%
14.0% Mutual • If you are part of the 55 million 14.0% Mutual • If you are part of the 55 million
IRAs Funds U.S. households with a mutual IRAs Funds U.S. households with a mutual
and Other and Other
Firms fund, or the 45 million with Firms fund, or the 45 million with
27.0% personal retirement accounts, 27.0% personal retirement accounts,
Pension 23.0% there is a good chance you Pension 23.0% there is a good chance you
Funds Individual Funds Individual
Investors invest in oil and natural gas Investors invest in oil and natural gas
stocks. stocks.
• Since 2000, the oil and natural • Since 2000, the oil and natural
Source: The Distribution of gas industry has invested $1.7 Source: The Distribution of gas industry has invested $1.7
Ownership of U.S. Oil and Natural Ownership of U.S. Oil and Natural
Gas Companies, SONECON, trillion in U.S. capital projects Gas Companies, SONECON, trillion in U.S. capital projects
September 2007. September 2007.
to advance all forms of energy, to advance all forms of energy,
including alternatives, while reducing the industry’s including alternatives, while reducing the industry’s
environmental footprint. environmental footprint.
• Between 2000 and 2008, the industry invested more • Between 2000 and 2008, the industry invested more
than $58 billion in new low and zero carbon emissions than $58 billion in new low and zero carbon emissions
technologies. technologies.
Challenges facing the industry could mean fewer jobs… Challenges facing the industry could mean fewer jobs…
There are those in Congress who want to raise taxes on only There are those in Congress who want to raise taxes on only
American oil and natural gas companies, despite the fact that American oil and natural gas companies, despite the fact that
they already have an effective tax rate higher than other S&P they already have an effective tax rate higher than other S&P
Industrials. Industrials.
Income Tax Expenses as Share of Net Income Before Income Taxes Income Tax Expenses as Share of Net Income Before Income Taxes
(2009) (2009)
48.4% 48.4%

Oil and Natural Gas 28.1% S&P Industrials Excluding Oil and Natural Gas 28.1% S&P Industrials Excluding
Companies Oil and Natural Gas Companies Oil and Natural Gas
Companies Companies

• Repealing the job-creating Section 199 domestic
manufacturing tax deduction and denying the deductibility
of intangible drilling costs will place 58,800 jobs at risk in
2011 and 165,000 by 2012.
• Additional taxes on foreign earnings could compromise
the ability of U.S. oil and natural gas companies to compete
in the global marketplace and invest in the U.S.
• The public opposes increased taxes on oil and natural
gas companies. According a recent poll among 6,000
registered voters, 64 percent in 10 states oppose an
increase in oil and gas taxes, including 46 percent of
voters who strongly oppose.
…and place our nation’s energy security at risk.
• Studies show that with some of these tax proposals, the
potential loss of domestic production could be as high as
600,000 barrels of oil equivalent per day, placing $15
billion in capital at risk in 2011 and almost $130 billion
over the next ten years.
• In the first year of tax changes, approximately 1 percent of
oil and 5 percent of natural gas production is at risk.
• Repealing the job-creating Section 199 domestic
manufacturing tax deduction and denying the deductibility
of intangible drilling costs will place 58,800 jobs at risk in
2011 and 165,000 by 2012.
• Additional taxes on foreign earnings could compromise
the ability of U.S. oil and natural gas companies to compete
in the global marketplace and invest in the U.S.
• The public opposes increased taxes on oil and natural
gas companies. According a recent poll among 6,000
registered voters, 64 percent in 10 states oppose an
increase in oil and gas taxes, including 46 percent of
voters who strongly oppose.
…and place our nation’s energy security at risk.
• Studies show that with some of these tax proposals, the
potential loss of domestic production could be as high as
600,000 barrels of oil equivalent per day, placing $15
billion in capital at risk in 2011 and almost $130 billion
over the next ten years.
• In the first year of tax changes, approximately 1 percent of
oil and 5 percent of natural gas production is at risk.

API represents API represents

more than 400 more than 400
oil and natural oil and natural
gas companies, gas companies,
leaders of a leaders of a
technology- technology-
driven industry driven industry
that supplies that supplies
For more information visit API.org America’s energy. For more information visit API.org America’s energy.